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    A006400   KR7006400006

SAMSUNG SDI CO., LTD.

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Volkswagen CEO says European battery plans could include JVs, IPOs

05/06/2021 | 09:48am EDT
FILE PHOTO: Spain's King Felipe and PM Sanchez visit the SEAT factory in Martorell

FRANKFURT (Reuters) - Volkswagen is looking for outside money in its plan to build up to six battery cell factories in Europe by 2030, Chief Executive Herbert Diess said on Thursday, adding he was open to listing some of those activities on the stock exchange.

Diess said the carmaker could not fund these plants alone. "We can't. We are looking for partnerships," he told analysts after presenting first-quarter results.

Volkswagen announced in March the battery factory plans, which are expected to have a capacity of 240 gigawatt hours.

As part of the deal, Volkswagen has raised its 20% stake in Northvolt and also taken over the Swedish firm's stake in a planned battery cell venture in the German city of Salzgitter, which will form the second factory from 2025.

This will be followed by a factory in Spain, France or Portugal in 2026 and a site in Poland, Slovakia or the Czech Republic by 2027. Two more plants will be set up by 2030.

"And I hope that within the next couple of months, we are able to announce the next sites and the next partnerships, even I wouldn't exclude IPOing some of the activities," Diess said.

He said options included entering joint ventures with existing battery cell suppliers and that there was strong interest from other industries and local governments to co-invest in batteries.

(Reporting by Christoph Steitz; Editing by Madeline Chambers)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 3.56% 450 End-of-day quote.28.16%
LG CHEM, LTD. -1.56% 822000 End-of-day quote.-0.24%
SALZGITTER AG -6.17% 24.02 Delayed Quote.10.69%
SAMSUNG SDI CO., LTD. 3.69% 674000 End-of-day quote.7.32%
SK INNOVATION CO., LTD. -1.60% 277000 End-of-day quote.45.79%
TESLA, INC. 1.09% 623.31 Delayed Quote.-11.67%
VOLKSWAGEN AG -2.54% 218.4 Delayed Quote.43.29%
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Financials
Sales 2021 13 959 B 12,3 B 12,3 B
Net income 2021 1 104 B 0,98 B 0,98 B
Net Debt 2021 2 618 B 2,31 B 2,31 B
P/E ratio 2021 42,0x
Yield 2021 0,15%
Capitalization 44 714 B 39 361 M 39 527 M
EV / Sales 2021 3,39x
EV / Sales 2022 2,81x
Nbr of Employees 24 718
Free-Float 75,1%
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Technical analysis trends SAMSUNG SDI CO., LTD.
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 34
Average target price 856 617,65 KRW
Last Close Price 674 000,00 KRW
Spread / Highest target 55,8%
Spread / Average Target 27,1%
Spread / Lowest Target -53,3%
EPS Revisions
Managers and Directors
NameTitle
Young-Hyun Jun President, Chief Executive Officer & Director
Jong-sung Kim Chief Financial Officer
Hyeok Jang Vice President & Head-Research Institute
Yoon-Geun Kim Managing Director & Head-Compliance Support
Sung-Jae Kim Independent Director
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